Generation Y shaping the future

Below is an outline on the characteristics of members of the echo boom, Generation Y, the echo boomers. Keep in mind that this is a generalization, an observed concept, and not a conclusive description. Not all echo boomers will identify with this, but it might demonstrate overall trends.

Likely to support “cause-related” marketing (83% willing to switch brands for a good cause if price and quality were equal)

Technology

Get news on the latest and greatest, what’s hot and up-to-the-minute cool from the Internet – their primary media vehicle

1/3 of life on the Internet

The average echo boomer has at least 2 email addresses.

First generation to grow up with computers in the home.

Email is preferred form of communication along with text messaging and instant messaging.

Enjoy tech gadgets (video games, cell phones, mp3 players.

How do Gen Yers think?

Conceptual Abilities

Parallel (rather than linear) thinkers

Higher input/output

Apt to begin tasks randomly – perhaps in the middle – as opposed to a traditional starting point

Graphics oriented, see text as supporting visual material

Thrive on change and variety.

Demand quick, if not instant, gratification

Sociological

Upbeat, confident, and assertive with high self esteem

Optimistic

Independent and self-reliant: Used to doing it (and many other things) themselves

Multi-taskers

Asserting their “intellectual authority” over parents, teachers, employers because they are more techno-savvy and capable of accessing greater breadth of information quickly.

High value for education

90% of HS seniors expect to attend college

Strive to continue education through life

Motivated and Goal-Oriented

Diverse and Tolerant

Strong dislike for racism in any form, sexism and homophobia

High in Volunteerism

Invest in the social and community causes

What do Gen Yers value most in life? Family, traditional values, country, planet

Unlike the Baby Boomer generation, Gen Yers value things other than income and status as being primary in life

Work Behaviors

Desire to work in highly motivated and committed teams

Need to be challenged – look for opportunities for growth, education, apprenticeship

Strive to work hard and do well

Up to 20% of their time is spent alone

Includers – they make people feel welcome and involved

Lofty financial goals – remember they are spenders!

Trained to be “Doers and Achievers”

Limited Employer loyalty – Jobs for life are replaced with short-term contracts

May have many different “careers” and diverse education/background

1 in 5 will be self employed

Old age postponed by “senior participation”

1 in 5 Gen Y women will choose to remain childless

Marketing Preferences:

Sell a lifestyle based on trust and emotion – not a product. McD’s now playing Hip Hop music and not talking about their juicy burgers. Why? Selling lifestyle: diversity is key and everyone looks like they are having fun with friends while eating at McDs – it’s about lifestyle. Those who might not like McDonald’s may not like it because they prefer a different lifestyle – perhaps a healthier lifestyle?

Brand conscious – seek to figure it out what brand aligns with their preferences, lifestyle, standards

Prefer directness over subtlety, action over observation, cool

It’s not about reaching the masses; it’s about building a community. Gen Y is community based. Rely on reviews, word of mouth.

Jones Soda: their website urges fans to send in photos for possible use on their labels. The odds of actually getting selected are low – only 40 are picked each year – but the lure is irresistible because it is interactive. Jones creates an emotional connection. Gen Yers buy Jones Soda not because they are thirsty, but because they want to make a fashion statement…drinking Jones makes you cool!

Social networking is a tool created by Gen Y to reinforce their communal thinking and a soap box for spreading ideas/preferences through word of mouth.

These statistics in full detail can be found at Who Are the Gen Y Students, a presentation performed by Jessica Morgan at a Student Affairs retreat for California State – Chico.

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[…] to most people? What will the next generation be like, growing up with so much technology? The Y generation, in particular, are considered “digital natives” being those who have always had access […]